GCash Clinches Frost & Sullivan Company of the Year Award
Frost & Sullivan, a well-known growth strategy consulting company, named GCash the Company of the Year in the Financial Technology Industry. GCash is the best finance app in the Philippines and part of the biggest cashless ecosystem.
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| GCash Clinches Frost & Sullivan Company of the Year Award |
This prestigious award recognizes GCash's innovative use of digital solutions, creative financial services, and important contributions to the field of fintech. Frost & Sullivan is impressed with how GCash has used strategy analytics and best practices in all of its business activities.
People have praised GCash for its work to improve financial inclusion by making it easier for people to apply for bank accounts. This new method, which is different from what banks usually require, lets customers sign up by giving only basic personal information, so they don't have to show proof of billing or income records.
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The award also shows that GCash is putting money into cutting-edge technology to improve customer service. Artificial intelligence and machine learning are used in their electronic know-your-customer (eKYC) tool to match faces and spot fake IDs. GCash's Credit service also gives customers an instant credit line of up to P50,000 that they can use at more than 100,000 stores and billers.
Over 94 million Filipinos use GCash's services, making it the biggest player in the country's fintech scene. Digital transactions have grown very quickly over the past ten years. They now make up almost half of all store payments, which is a big jump from the 1% they made ten years ago.
Frost & Sullivan gives the Company of the Year Award after a careful, unbiased review of Visionary Innovation, Performance, and Customer Impact.
President and CEO of GCash Martha Sazon said this about the win: "The fintech sector has seen exponential growth over the past ten years." As digital payments become more common, we are very aware that a lot of people still don't have bank accounts. This award shows that our constant efforts to find growth possibilities, come up with new solutions, and meet our customers' changing needs are paying off. It makes us even more determined to keep working toward our goal of "Finance for All" and making Filipinos' everyday lives better.